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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #48,401
  • Nov 19, 2009 9:24pm Nov 19, 2009 9:24pm
anybody who took this cad BUOB is a happpppy camper at this juncture. Good job guys. I know this little bit of PA was pointed out a while ago by a couple different people.

edit: note the 1.0684 is a weekly ppz on my charts, and proved to be a great spot to take out half the trade, and get that stop to B/E. It clearly did what "it is supposed to do"

edit #2: note the 1.0603 (aka, 1.0600) is another strong PPZ for a more squeemish/conservative trader to move the stop to B/E
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Many choose unhappiness over uncertainty.
  • #48,402
  • Nov 19, 2009 9:24pm Nov 19, 2009 9:24pm
Quoting g_j_hook@yah
Hey, thanx Jarroo, coming from you and Mike it MUST mean im learning something from you guys !
cheers.


Hey Mike, i think i got the EXACT same entry on the gb/yen trade but i bottled it before it broke lol

my gb/us short is looking ok though closed two thirds at about the original stop size and moved my stop to just above 167.00. it all for free now so i want to let it ride if poss.??....thats one steep trend line!...a 50% retrace of that would be nice!??
jon

Your doing great jon. I look forward to your posts.
Indicators show the past. Price Action "Indicates" the future.
  • #48,403
  • Nov 19, 2009 11:11pm Nov 19, 2009 11:11pm
Quoting james16
good to see all is going well. ive had the pig flu for over a week just havnt said anything...
hopefully u are getting better, Sir.
more fruits & veggies for better health
  • #48,404
  • Nov 19, 2009 11:18pm Nov 19, 2009 11:18pm
Quoting supremeChaos
hopefully u are getting better, Sir.
more fruits & veggies for better health
fruits veggies and beer Jim


feel better
  • #48,405
  • Nov 19, 2009 11:44pm Nov 19, 2009 11:44pm
Quoting mbqb11
fruits veggies and beer Jim ...
which specific beer?
ill check it out
  • #48,406
  • Edited 2:06am Nov 20, 2009 1:30am | Edited 2:06am
Quoting supremeChaos
which specific beer?
ill check it out
single malt scotch will kill any germs in the body and make you feel warm and toasty too.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #48,407
  • Nov 20, 2009 2:05am Nov 20, 2009 2:05am
Pink Floyd...last time I saw them was in Venice on July 15 1989...at the time they had to build the largest barge on the planet to house the stage and everything that went with it...no pig though...I guess they woulnd't let them run a cable down from the Tower in Piazza San Marco .....matter of fact all hell broke loose politically because of it - the city wasn't ready for over a half million people coming in all at once....

get well soon Jim.....
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #48,408
  • Nov 20, 2009 2:45am Nov 20, 2009 2:45am
Quoting Scot Pippin'
Benji,
Great work on that trade bro. So is your focus to wait till you have a strong bias for a daily and then drop down to the 5 and look for entries in the direction you want? May have to give it go sometime.
Hey Scot,

What's up buddy?

Yea look for 1H-1D confluence zones and then go to the lower TFs and look for a nice bar of a round number with div. I like it, and it is easy.

Ben
  • #48,409
  • Nov 20, 2009 2:52am Nov 20, 2009 2:52am
Quoting Majestic12
Benji, amazing trade on EURJPY. i also took this trade after identifying the area as being really strong what with the trendlines, pivots, whole numbers and multiple fibs all 'confluencing' in that area - a bounce seemed a very high probabilty.

During simulation i have seen that quite a lot of the shorter time frame pins seem to work at round number with confluence, especially on gbpusd and eurjpy. however i am not yet good enough to attempt that kind of entry. I entered on the break of the previous bar of the inside bar on the hourly. looking...
Way to go bro. I think the real advantage of the lower TFs is the ability to catch the simple moves of the higher TFs with a small stop. (we can actually understand where price is heading, and in the meantime enjoy a very small stop).

It works on all pairs.

Trading is VERY simple if:
- You believe it is simple.
- If you have a plan.
- If you just forget about the money, throw you emotions away, and use ONLY your knowledge of reading a chart.
- Have common sense.

Ben
  • #48,410
  • Nov 20, 2009 3:44am Nov 20, 2009 3:44am
A bit different.

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  • #48,411
  • Nov 20, 2009 3:53am Nov 20, 2009 3:53am
Quoting benji533
...
Trading is VERY simple if:
- You believe it is simple.
- If you have a plan.
- If you just forget about the money, throw you emotions away, and use ONLY your knowledge of reading a chart.
- Have common sense.
Good points.. but this part, is easier said than done.

to paint a more realistic perspective, here's another view:
Trading is simple & easy. it's the trader that makes it difficult.
to be more specific, what's inside the trader's head is what makes trading difficult.
what's inside the trader's head = Psychology (personal circumstance; negative emotions, experiences; mental issues/roadblocks; greed, fear, etc)

if we can overcome/control this "Psychology", plus if we employ good, consistent money management, then our trading goes to the moon.
this may take time, but if we do not quit, then success is definitely within our reach.
  • #48,412
  • Nov 20, 2009 4:33am Nov 20, 2009 4:33am
My 4HR bar closes in 1.5hrs. I am watching this for a potential trade entry. Would one of the newer traders like to take a shot at telling me why this is an interesting looking area for a possible long entry? What would be a most ideal conservative scenario to develop for long here? I will be heading out for some riding today in a short bit, so I may not be able to respond until later in the day but I'm sure that others here can help if there are any questions.

K.I.S.S.
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  • #48,413
  • Nov 20, 2009 4:50am Nov 20, 2009 4:50am
Here is a possible loser...but who cares?
Not getting caught on them
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  • #48,414
  • Nov 20, 2009 5:01am Nov 20, 2009 5:01am
Guys,

Just found a way in which you can all make incredible profits.

I will post you all my intended trades.

All you have have to do is trade in the opposite direction.

I gaurantee 100% success rate!
  • #48,415
  • Nov 20, 2009 5:02am Nov 20, 2009 5:02am
Quoting jarroo
Hi icarus.

If your asking did I take the DIBS trade on the Aud/Usd, no I didn't. I haven't be looking at many DIBS trades for a long while due to time availability. Nor did I take the DBHLC, is this the one your referring to . . (Chart).

We like those DBHLC at swing highs and DBLHC at swing lows. They can be played as a continuation trade with obvious supportive confluences: off a PPZ level, round number, fib levels , etc.
Hi jarroo, no i wasn't talking about the DBHLC i was talking about playing the ib break inside the DBL (just below to blue area DBHLC you showed). sall good anyway i took 1st tp early and moved sl then got taken out....made a small %, infact it was a bit of a "what could've been" day for me....still traded the plan and walked away with a couple of % so all in all a good day.

regards
  • #48,416
  • Nov 20, 2009 5:12am Nov 20, 2009 5:12am
Quoting benji533
Here is a possible loser...but who cares?
Not getting caught on them
hi benji, do you place stops @ pin highs or a little higher above/below round numbers?

as a reformed scalper i've been watching your tades with interest! :oD
  • #48,417
  • Edited 5:36am Nov 20, 2009 5:24am | Edited 5:36am
Quoting supremeChaos
Good points.. but this part, is easier said than done.

to paint a more realistic perspective, here's another view:
Trading is simple & easy. it's the trader that makes it difficult.
to be more specific, what's inside the trader's head is what makes trading difficult.
what's inside the trader's head = Psychology (personal circumstance; negative emotions, experiences; mental issues/roadblocks; greed, fear, etc)

if we can overcome/control this "Psychology", plus if we employ good, consistent money...
And there is a very fine line between SIMPLE and EASY.

HARD WORK IS ALWAYS THERE.

P.S: Obsession with charts is a great help.
  • #48,418
  • Nov 20, 2009 5:45am Nov 20, 2009 5:45am
BEOB is still valid right.
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  • #48,419
  • Nov 20, 2009 5:52am Nov 20, 2009 5:52am
Quoting icarusfx
hi benji, do you place stops @ pin highs or a little higher above/below round numbers?

as a reformed scalper i've been watching your tades with interest! :oD
Hey icarusfx,

stop above the pin's high (for bearish bars) and below the pin's low (for bullish bars)
The stop will always be at the other side of the round number.
  • #48,420
  • Nov 20, 2009 5:57am Nov 20, 2009 5:57am
Quoting PeterPan
Guys,

Just found a way in which you can all make incredible profits.

I will post you all my intended trades.

All you have have to do is trade in the opposite direction.

I gaurantee 100% success rate!


ok. let's roll!

but anyway, most traders had this time. just go one and trade what you see.
meine augen sind die sterne
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